The overarching strategic goal of GNPC is to become a stand-alone operator by 2019 and a world-class operator by 2027. In pursuit of this goal the Corporation adopted the ‘accelerated growth strategy’ in 2012, anchored on four key pillars, namely:
1. Building capacity and expanding activities
2. Replacing and growing
reserves
3. Efficient capitalization and optimum participation
4. Catalysing local content development
Investing systematically and prudently in building operating capability to manage a wider portfolio of producing assets.
Investing in high impact initiatives for the replacement and growth of reserves.
Securing capital at the lowest possible cost to maintain an optimum level of participation in petroleum operations.
expediting the creation of an appropriate environment for Ghanaian participation in the upstream sector of the petroleum industry.
UPDATE ON THE JOURNEY TO BECOME A WORLD CLASS OPERATOR
Generally, we are on course to achieving our goal of attaining operatorship in 2019. The Corporation has adopted a phased approach to achieving full operatorship by 2019. The first phase involves entering into joint venture/ joint operator arrangements with world class operators to achieve rapid transfer of operating capabilities.
Thereafter, the Corporation will systematically assume full operatorship based on well-defined risk and opportunity assessments. With a newly incorporated subsidiary - Exploration and Production Company Limited (Explorco), GNPC is participating in incorporated joint ventures, with commercial interests held by Explorco.
This year, 2016, marks the mid-term of the accelerated growth strategy, therefore, a comprehensive review of the strategy will be conducted during the year to determine any gaps militating against the plan, and propose recovery measures necessary to overcome any shortfalls.
HEADQUARTERS
PETROLEUM HOUSE
POSTAL ADDRESS
GNPC, PMB, PETROLEUM HOUSE
TEMA-GHANA
